Getting prequalified or preapproved for a loan is typically step one in securing a home loan

A guide to the homebuying process

From searching for the home itself to writing an offer letter to closing on the home, there are specific steps involved in becoming a homeowner. This checklist from a Tennessee real estate broker provides a visual outlining the basic steps of the process.

Buyers used to borrow money from people within their communities to purchase property

Historically, borrowing money from other people to purchase property was common until private financing companies—primarily building and loan associations—stepped in to offer mortgages to buyers.

Roughly 37% of first-time US home buyers have student debt

When those people have extra money, they might wonder: Is it better to pay down my mortgage or my student loans first? This article argues that the answer depends on each loan's interest rate, among other factors.

In real estate, a larger down payment can reduce your loan amount

However, the trade-off is liquidity: Tying up too much cash in a home can reduce emergency savings and delay your purchase.

How interest rates affect homebuying

Rising interest rates impact every aspect of buying a home. This five-minute article gives a high-level overview of the relationship between the housing market and interest rates.

Escrow is when a third party holds on to the money during a financial negotiation between two other parties

In the homebuying process, escrow typically happens while the buyer and the seller negotiate the terms of the sale. Escrow accounts can also be used to hold a buyer’s money when making payments on their loan.

Private mortgage insurance protects the lender rather than the borrower

Also known as a “PMI,” private mortgage insurance may be required for those who have a conventional loan and put less than 20% down on their home. A PMI could also be required for someone refinancing their mortgage if they have less than 20% equity remaining in the property.

Financial institutions check for lots of things before authorizing a purchase

Before authorizing a purchase, card issuers consider whether or not the cardholder has a high enough available credit limit to make the purchase, where the purchase is being made in order to reduce fraud, and more.

Title loans are a type of short-term loan with high interest rates

Title loans allow borrowers to use their vehicle's title as collateral for a short-term loan. Similar to payday loans, title loans often have high interest rates and are mostly structured to last around 30 days. If title loans aren't repaid, the lender can take possession of the borrower's vehicle.

Life insurance offers peace of mind, ensuring that loved ones are financially supported after one's passing

People typically apply for life insurance policies through specific companies or online marketplaces. This video offers more information that's important to know when considering buying life insurance.

Some argue that advance payday apps aren't markedly different from payday loans

Some apps, like EarnIn, allow users to get money from their paycheck in advance. These apps access users' banking information, allowing the company to immediately take back any borrowed money and track users' financial situations to evaluate their risk. Unlike traditional payday lenders, these apps often waive the right to sue users who don't pay back the initial principal and don't charge interest, but rather ask users for a tip. (Some users may experience a paywall.)

Five steps to start your credit union journey

Once you’ve decided you want to start banking with a credit union, you’ll need to fill out an application. This will ensure that you meet all of the institution’s membership requirements. You’ll need to hand over basic information like your name, address, date of birth, Social Security number, and your driver’s license. This tutorial walks you through the process so that you can make your first deposit in no time.

Steps for buying your first hearing aids

Hearing aids have advanced in aesthetics, simplicity, and cost in recent years, but acquiring them can be daunting for first-timers. Experts suggest finding a high-quality audiologist and knowing your rights with medical services. They also recommend buying them sooner rather than later, as hearing issues can compound and grow more costly over time.

An initial public offering is how a private company becomes public

This milestone requires plenty of preparation, starting with the SEC's S-1 registration, revealing key details about the company's finances and strategy. Investment bankers set valuations, secure long-term investors, and finalize share pricing before the public launch. IPOs provide companies with significant capital, but also demand transparency and invite public scrutiny.

Take a bankruptcy self-filing quiz

If a debtor is considering filing for Chapter 7 bankruptcy, it may be tempting to take a do-it-yourself approach to avoid attorney or preparer fees. However, experts caution that this could come back to bite filers. A quiz can help would-be filers explore whether their cases are complex enough to necessitate a lawyer.

A deed is a legal document that shows change of homeownership during a sale

A deed differs from a title, which is the actual right of ownership to a property, and a concept rather than a physical document. These days, many deeds are online rather than physical pieces of paper kept in a home.

How the credit scoring system could change

Factoring rental payments into credit scores is just one proposed change some have suggested making to today’s credit scoring system to cater the system to renters as well as homeowners.

Accredited investors are people or other entities allowed to participate in investments that aren’t registered with the SEC

The accreditation is meant to protect retail investors from potential losses. Financial professionals with Series 7, 65, or 82 licenses qualify, but so do individuals with over $1M in net worth.

An initial public offering or 'IPO' is the process of a private company becoming public by putting shares of the company on the stock market for purchase.

The first steps to rebuilding your credit score include getting to know exactly what's on your credit report and figuring out how far you are from the '700 club,' or 'good score' range.

The bathroom upgrade that might increase a home's resale value

When deciding what to improve during a home renovation, people often think about their home's future resale value. Now, real estate experts are claiming that adding a luxury shower might provide the most bang for your buck in the renovation department. Learn more in this article.

The Fed operates within the open market as a competitive bidder of interest rates

Because it’s viewed as a risk-free platform to earn interest, whatever rate it sets becomes the default benchmark. To maintain its target rate prescribed by the Federal Open Market Committee, the Fed has various tools it offers both commercial banks and home loan institutions.

US housing costs have risen by roughly 175% between 1991 and 2026—but a growing number of Gen Zers are becoming homeowners anyway. In 2025, 4% of homebuyers were Gen Z, up from 3% the year before.

Probate is a legal process that determines if someone’s will is valid

The executor of the will in question not only collects estate assets, but also pays outstanding taxes and more. Grantors sometimes opt for a revocable trust instead of a will so their assets avoid probate in the event of their death.

The federal budget process begins nearly a year before funds are spent

Creating the federal budget starts months in advance. This resource explains each stage, showing how the president proposes priorities, Congress reshapes and approves funding, and federal agencies implement the final budget.

Location is the most important factor for profitability in real estate investing

“Location, location, location” is a saying for a reason. From the neighborhood’s status to its proximity to its tax implications, location is among the most important factors for real estate investors to consider in transactions.

What is a 401(k)?

Should you get a 401(k)? To make sense of this obscure piece of tax code, here’s a beginner’s guide to one of the more common forms of retirement savings in the US. Learn the history of the 401(k), how to sign up for one, the different types, and more in this well-organized and concise explainer from Investopedia.

Commodities have to meet specific specifications to be classified as commodities

In the financial sense of the term, commodities must be uniform, interchangeable, and deliverable to meet the classification. That's partly why a crop grown in your backyard might not qualify as a commodity crop.

Frank Lloyd Wright's houses are historically hard to sell because they're old, subject to local landmark commissions, and often unfashionable

Doctors differentiate between a phobia and fear by asking patients whether their fear interferes with their day-to-day activities.

When you complete a CAPTCHA on a website to prove you are human, you may be unknowingly training algorithms for self-driving cars, whose systems require training data to help identify crosswalks, bicycles, and other outdoor objects.

Long before Major League Baseball began allowing instant replay for balls and strikes, an umpire reluctantly used the technology to determine whether a hit was a home run, a move that inadvertently ushered in a new era for the sport.

Play the role of a student in a game where you try to navigate college and remain debt-free, selecting different income levels, high school experience, race, ethnicity, and more.

Telehealth demand for GLP-1s for weight loss is booming as consumers seek easier access.

Abraham Lincoln was almost assassinated weeks before his inauguration as he traveled from Illinois to DC through Baltimore in 1861; it took two independent claims for Lincoln to be convinced the threat was real

Hookworm infection, though risky, may help fight certain autoimmune conditions by tamping down the immune system's inflammatory response.

Some coin denominations have ridges etched on their sides, partly to prevent counterfeiting, in a practice called 'reeding.'

The Beatles' US label rejected the band's first two singles, 'Please Please Me' and 'From Me to You,' with one executive calling the band 'dead in the water.'

Warren Buffett's former professor Benjamin Graham is known as the 'father of value investing,' a strategy in which investors seek to buy stocks trading below their intrinsic worth.

Jimmy Carter signed a 1978 bill that legalized home brewing, a move credited with kick-starting the craft beer industry.

Explore fun facts from the USPS, including unique post office buildings, a stamp that traveled past Pluto, and more.

The price of gas is a composite made up of several different factors, with the federal gas tax making up less than 20% of what drivers pay at the pump.

Netflix profits when you're not watching, and its movies are designed that way—read a detail-rich critical essay exposing lesser-known Netflix takes

Researchers believe the brain consolidates memories, processes emotions, and plans for the future during dream states

Take a 3D tour of the Hajj, Islam's annual pilgrimage to Mecca, undertaken by over 1.5 million Muslims.

Objects can be 3D printed with light by projecting 2D computerized tomography (CT) scans onto rotating cylinders of resin, which solidify upon exposure.

The Brothers Grimm were lawyers before they were storytellers, and became interested in fairy tales as they began investigating how rules and customs had been passed down through cultures.

Pure water does not conduct electricity because this flow of energy requires the movement of charged particles, and water is a neutral molecule.

The United States is one of only around two dozen countries with a fully federal system of government, in which power is divided between national and state governments.

See how each of the more than two million known species relates to each other—and to common ancestors—in this zoomable tree of life.